RTC’s Post

Last week at the E-Invoicing Exchange Summit in Dubai, the United Arab Emirates' Ministry of Finance has taken a significant leap forward with its announcement of a new e-Invoicing System. Exciting developments are underway with the launch of an innovative approach, known as the Decentralized Continuous Transactions Control and Exchange #DCTCE model. This avant-garde system is set to change the dynamics of how electronic invoices are shared between companies and governmental bodies, eliminating the need for immediate validation by Tax Authorities. Key milestones for the UAE's e-Invoicing System initiative are outlined as follows: 1) Q3 2024: Establishment of certification standards for Service Providers and creation of a comprehensive Data Dictionary. 2) Q2 2025: Introduction of legal framework governing e-Invoicing. 3) December 2025: Unveiling of the strategic plan. 4) July 2026: Commencement of Phase 1 of the implementation. You can check our article: https://lnkd.in/dpB-3dCb  #UAE #EInvoicing #DigitalTransformation #TaxCompliance #CTC #PEPPOL #Gulf #Gulfregion #GCC #UAEtax #UAEinvoicing #PeppolUAE #RTC

The UAE ministry has unveiled an overview of the country’s E-invoicing model and implementation timelines. It would be the Decentralized Continuous Transaction Control and Exchange system (DCTCE) model. The key milestones include- Q4 2024- Accreditation of service providers Q2 2025- Einvoicing related legislation updates Q2 2026- Phase 1 Go-live of E-invoicing All businesses now need to gear up and plan their initial steps for implementation accordingly. Service providers who wish to be accredited, need to quickly turnaround things at their end to get themselves accredited as only UAE accredited SPs can send an extract of relevant data contained in the invoice to a central data platform operated by the FTA. Source- https://lnkd.in/epHZuE3k #einvoicing #uae #fta #UAEeinvoicing #DigitalInvoicing #Taxtechnology #DigitalTransformation #TaxCompliance #UAEBusiness

In this GCCTaxmonday, we are presenting a summary of the information released by the UAE’s Ministry of Finance regarding e-Invoicing, as detailed on their website: https://lnkd.in/dWAzxStN Markus Susilo Michel Ruitenberg   #GCCTaxMonday #e_Invoicing #B2BandB2CTransactions #MoF #PeppolModel #UAE

🚀 Exciting updates from the E-invoicing Exchange Summit in Dubai! The Ministry of Finance has unveiled key insights into the forthcoming CTC e-invoicing mandate. Here's a summary to keep you in the loop: ✅ Initial coverage will focus on B2B and B2G transactions, with future plans to expand to B2C transactions. ✅ The UAE will embrace a 5-corner model named DCTCE, leveraging Peppol specifications for seamless integration. 📅 Anticipated are additional announcements and clarifications from the UAE authorities as per the outlined schedule: ✔  Q3 2024: Development of service provider certification requirements and procedures, alongside the UAE Data Dictionary. ✔  Q2 2025: Introduction of e-Invoicing legislation. ✔ December 2025: Rollout strategy. ✔  July 2026: Phase 1 go-live for Reporting. Stay informed with the latest developments in e-invoicing and e-reporting obligations in the UAE . Don't miss out on crucial updates! 📆📊📈 For More Information, 📞: +971 2 622 9943, 📧 : info@bot-advisory.com ,🌐 : www.bot-advisory.com CA Anu Thomas | CA Monish Mohan FCA | Shaik Moinuddin | Venkitesh V Bhat | BOT - Bin Otaiba Advisory | BOT APT Global Tax #einvoicing #uae #dctce #summit #ereporting #datadictionary #rollourstartegy #b2ctransactions

The United Arab Emirates' Ministry of Finance has announced the introduction of a new e-Invoicing System, starting February 14, 2024. This system operates on a Decentralized Continuous Transactions Control and Exchange (#DCTCE) model for electronic invoice circulation among businesses and government entities, eliminating the need for direct Tax Authority validation. The significant dates for this initiative: ✔Q3 2024: Establishment of Certification Requirements for Service Providers and Development of the Data Dictionary. ✔Q2 2025: Introduction of Legislation for e-Invoicing. ✔December 2025: Rollout of the Strategy ✔July 2026: Launch of Phase 1 Implementation. 🗝As the #UAE progresses towards its e-Invoicing System implementation, with key milestones from February 2024 through July 2026, Melasoft is your ideal partner in ensuring compliance and enhancing operational efficiency. Visit our website for e-compliance solutions 👇 🔗 https://lnkd.in/d4Fwtx2k 📨 Contact us to learn more: info@melasoft.com #uae #einvoicing #dctce #taxpayers #compliancesolutions #compliancemanagement #fintechnews #electronicinvoice #melasoft 

📈 Our Q3 2024 report dives into significant changes across Bahrain, Oman, Qatar, Kuwait, KSA, and the UAE, covering VAT updates, new tax treaties, and corporate tax insights. MMJS remains dedicated to helping businesses navigate compliance and capitalize on emerging opportunities throughout the region. 💼 Surandar Jesrani Abdullah Alsudais, SOCPA Anas Salhieh, ADIT Ankur Jain Aunali Merchant Jikku Luke Rishabh Tandon 🌍 #taxupdate #GCCRegulations #MMJSConsulting #Q3Recap

Our GCC tax recap for Q3 2024

𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐬 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐄-𝐈𝐧𝐯𝐨𝐢𝐜𝐢𝐧𝐠 The Ministry of Finance (MOF) has unveiled a major step towards the implementation of Electronic Invoicing (E-Invoicing) in the UAE. 𝐓𝐡𝐢𝐬 𝐢𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞 𝐚𝐢𝐦𝐬 𝐭𝐨: 1.Serve as a key enabler of a modern, digital, and paperless economy, while maximizing UAE Federal Government revenue collection. 2.Reduce tax gaps and curb tax evasion. 3.Create a level playing field for all businesses, thus enhancing the ease of doing business. 𝐏𝐡𝐚𝐬𝐞𝐬 𝐨𝐟 𝐄-𝐈𝐧𝐯𝐨𝐢𝐜𝐢𝐧𝐠 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: 1.Q4 2024: Development of the Service Providers (SPs) Accreditation Requirements and Procedures, and the UAE Data Dictionary. 2.Q2 2025: Introduction of E-Invoicing Legislation. 3.July 2026: Phase 1 Go-Live for Reporting. It's interesting to wait for the implementation of these phases as the transition to E-Invoicing marks a significant step towards advancing the UAE's digital economy. CA Jaikumar Tejwani Karan Mutneja Pooja Mutneja CA Vaishnavi Raghuwanshi CA VENNA LEELA NAGA BHARGAV #uaetax #mof #eInvoice #taxupdates

🚨 UAE E-Invoicing Alert! 🚨 The UAE Ministry of Finance has officially launched the "UAE eInvoicing Programme," set to roll out in phases, with Phase 1 going live in July 2026. This move is part of the UAE’s commitment to streamline tax compliance, reduce fraud, and enhance transparency for businesses. 📅 Key Timeline: - Q4 2024: Service provider requirements and procedures - Q2 2025: Issuance of e-invoicing legislation - July 2026: Phase 1 e-invoicing go-live 💡 What Businesses Need to Know: - E-invoicing will use a five-corner model through the PEPPOL network, ensuring secure e-invoice exchange. - Accredited Service Providers (ASPs) will validate e-invoices before submission. - Initial scope covers B2B and B2G transactions. Now is the time to review your invoicing systems and prepare for this digital transformation! Note: We've included an attachment with an English translation for reference, but please be aware that it is an unofficial translation. Always check official sources or consult with discretion. #AGCMSI #UAE #eInvoicing #VAT #UAEFinance #DigitalTransformation #TaxCompliance #BusinessUpdates

The UAE’s Federal Tax Authority (FTA) has reaffirmed its commitment to mandate structured electronic invoicing for B2B and B2G transactions in 2026. 📝 The UAE will implement the Decentralized Continuous Transaction Control and Exchange (DCTCE) model, requiring businesses to engage with accredited service providers for issuing and receiving e-invoices. These e-invoices will be exchanged over the Peppol network and in the Peppol PINT format. Invoice data will be validated and reported to the FTA through the accredited service providers. 📆 Key dates to remember: Q4 2024: Accreditation procedures for service providers begin. Q2 2025: Legislative updates related to e-invoicing are rolled out. Q2 2026: Go-live of mandatory e-invoicing obligation. The rollout strategy is still in development, but it will be a phased implementation starting in July 2026. Businesses will be informed in advance of their specific compliance timelines. 🌏 Stay tuned for more updates on e-invoicing obligations in the UAE and around the world! #pwc #einvoicing #ereporting #ecr